Regulatory Alerts2019-12-31
Regulatory Sandbox Exemptions Guidelines for Applicants
The Financial Services Authority of Seychelles issued these guidelines to establish the application framework and operational requirements for firms seeking regulatory sandbox exemptions. Applicants must submit a completed application form with supporting documents, pay a USD 5,000 initial fee plus tiered exemption fees, and demonstrate the integrity, financial standing, and risk management capabilities required for testing innovative financial products. The document details the Authority’s review procedures, ongoing reporting obligations during the testing period, and mandatory exit strategies that facilitate either a transition to full licensing or structured service termination.
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